https://www.taxtmi.com/acts?id=30178 Composition levy permits eligible registered persons below the prescribed turnover threshold to opt to pay tax at prescribed rates instead of regular tax, subject to eligibility exclusions (specified services, non taxable supplies, inter State supplies, supplies via certain e commerce operators, and notified manufacturers) and collective opt in where PAN is shared. The option lapses when turnover exceeds the threshold. Persons under the scheme cannot collect tax from recipients or claim input tax credit. Ineligible use of the option exposes the person to tax determination and penalty under the assessment provisions, applying section 73 or 74 mutatis mutandis. en-us Sat, 08 Jul 2017 17:23:22 +0530 Tue, 18 Jul 2017 11:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30178 Composition levy permits eligible registered persons below the prescribed turnover threshold to opt to pay tax at prescribed rates instead of regular tax, subject to eligibility exclusions (specified services, non taxable supplies, inter State supplies, supplies via certain e commerce operators, and notified manufacturers) and collective opt in where PAN is shared. The option lapses when turnover exceeds the threshold. Persons under the scheme cannot collect tax from recipients or claim input tax credit. Ineligible use of the option exposes the person to tax determination and penalty under the assessment provisions, applying section 73 or 74 mutatis mutandis. Act-Rules GST - States Sat, 08 Jul 2017 17:23:22 +0530 https://www.taxtmi.com/acts?id=30178